Past year: ▲ 75%(4.40c – 10.5c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Oct 2018investor presentation● Neutral
October 2018 presentation repeating the Planet Gas acquisition and portfolio. It shows 164m shares rising to 186m after the raise, cash $1.1m rising to over $2.0m, and the Burunga South 2 result due in Origin's 30 October report.
17 Oct 2018capital raising announcement● NeutralMajor
HPR raised $1.25m at $0.05 per share (25m shares) via placement, resolving the raising flagged on 15 October. Directors take 2.9m shares ($145k) subject to AGM approval. Funds may repay part of the Planet Gas debt and strengthen the balance sheet.
15 Oct 2018asset acquisition disposition▲ GoodMajor
HPR agreed to buy Planet Gas USA Inc for $1, taking on US$2.75m of Macquarie debt and a US$15m facility. It holds 3% royalties on 2,000+ US wells, about A$500k a year. Subject to conditions. A capital raising is planned and Jarrod White leaves the board, returning to CFO.
28 Sept 2018annual report● Neutral
Appendix 4G corporate governance checklist lodged with the annual report, pointing to pages 46-49. Administrative only.
28 Sept 2018annual report● Neutral
FY2018 annual report. Chairman Carroll says HPR avoided a dilutive raise through cost control and projects positive cash flow. The board is now considering debt funding for income-producing royalties and still evaluating new royalty acquisitions.
31 July 2018quarterly activities report● Neutral
June 2018 quarter: royalty receipts $62k, operating outflow $65k, plus $53k from an investment disposal. Cash ended at $1.178m, from $1.182m. No debt. Expected outflow next quarter is $119k.
31 July 2018quarterly activities report▲ Good
June 2018 quarter activity report: oil above US$70/bbl is lifting activity around HPR royalties. Origin's Burunga South 2 is drilling, Santos plans Dukas in early 2019, and Longtom may restart after the Orbost plant upgrade in early 2019. No new transactions.
25 June 2018other● Neutral
Lowell Resources Fund (ASX:LRT) bought 4,675,765 HPR shares, sold down by director Anthony Wooles at about $201,058 on-market. Wooles remains the second largest holder with 20 million shares. Chairman calls it an endorsement of the royalties model.
29 May 2018regulatory community update▲ Good
HPR received $18,462 from the Peat royalty for the March quarter (nil a year earlier); financial-year-to-date Peat receipts are $59,194. Origin spudded the deep Burunga South 2 well on 21 April 2018 on the permit, which could lift royalties if successful.
10 May 2018investor presentation● Neutral
Investor roadshow presentation promoting HPR's exposure to the east coast gas shortage and oil rebound. It states 163.96m shares, $1.2m cash at 31 March 2018 and a $6.7m market cap. Repeats known facts.
30 Apr 2018quarterly activities report▲ Good
March 2018 quarter: receipts $85,953, up from $48,880 in December. Operating outflow only $4k; buy-back spend $62k. Cash ended at $1.182m, down from $1.249m.
30 Apr 2018quarterly activities report▲ Good
March 2018 quarter: buy-back bought 1,402,111 shares (2,702,785 total) and has now ceased. Santos plans to drill Dukas in the Northern Territory within 12 months, where HPR holds a 1% royalty. Longtom repairs reported complete.
16 Mar 2018half year report● Neutral
Half-year to 31 December 2017: net loss $233,900 versus $192,709 a year earlier. Royalty income rose to $105,829 from $14,100 on US royalties and Peat resuming. Cash $1,255,650; 1,200,674 shares bought back for $47,947.
31 Jan 2018quarterly activities report● Neutral
December 2017 quarter: receipts $49k, operating outflow $144k, buy-back spend $54k. Cash ended at $1.249m, down from $1.446m. No debt.
31 Jan 2018quarterly activities report▲ Good
December 2017 quarter: half-year royalty receipts $75,123 versus $10,401 a year earlier, helped by higher oil prices. 1,200,674 shares bought back. Royalco will not pay a dividend and plans to auction the Weeks royalty; HPR is considering its position.
29 Nov 2017director officer appointment● Neutral
CFO Jarrod White joined the board as a director, making the CFO role redundant. Philip Leighfield was appointed joint company secretary. HPR says director pay was adjusted so administration costs do not change significantly.
28 Nov 2017other● Neutral
Key asset review update: Core Energy's report says a domestic gas scenario could raise the risked value of the Queensland royalties. Royalco will pay no dividend, which HPR calls unsatisfactory. The buy-back began 20 November.
28 Nov 2017agm notice● Neutral
All resolutions at the 2017 AGM passed on a show of hands, including the remuneration report and re-election of Anthony Wooles. Administrative result only.
27 Nov 2017director officer appointment● NeutralMajor
Andrew Carroll became Chairman, effective immediately, replacing Anthony Wooles in the role. Wooles and Geoffrey King stay on as non-executive directors.
6 Nov 2017other● NeutralMajor
HPR will run a key asset review, alongside an on-market buy-back announced the same day. It covers the gas royalty portfolio valuation, the Royalco stake, individual royalties and capital structure. No results or figures yet.
31 Oct 2017quarterly activities report● Neutral
September quarter activities report repeats royalty receipts of $26,243 (previous year $6,485) and says cost control has cut cash burn. Portfolio unchanged at 23 royalties; no new transactions.
31 Oct 2017quarterly activities report● Neutral
September 2017 quarter: royalty receipts $26,243, up from $6,485 a year earlier. Operating outflow $73k; cash ended at $1.446m, down from $1.523m. No debt, and no acquisitions reported.
29 Sept 2017annual report● Neutral
Appendix 4G governance checklist for the 2017 annual report, pointing to pages 47-50. Administrative only; no new commercial information.
29 Sept 2017annual report● Neutral
Annual report to 30 June 2017. Chair cites the February sale of half the Royalco stake for $1,140,232, the PEL 512 sale for $100,000, and the $314,637 West Texas royalty that has produced $47,331 so far. Board cut from five to three.
1 Aug 2017quarterly activities report▲ Good
June 2017 quarter: income receipts up 80% as US royalty cheques grow. Portfolio remains 23 royalties, with no new transactions reported. Management says cost control has cut cash burn year on year.
1 Aug 2017quarterly activities report● Neutral
June 2017 cash flow: royalty receipts rose to $79k from $20k in March, mainly from the second US royalty parcel bought in December 2016. Operating outflow $142k; cash ended at $1.523m, down from $1.665m.
28 Apr 2017quarterly activities report▲ Good
March 2017 quarter: cash rose to $1.66m from $0.49m, mainly from the Royalco share sale and PEL 512 royalty sale. First cheques from the new Texas (Grimes) royalties arrived. The Royalco spill meeting changed its board, but none of HPR's nominees was appointed.
28 Apr 2017quarterly activities report▲ Good
March 2017 cash flow: operating inflow $39k on $119k receipts. Investing inflow $1.136m, mostly the $1.14m Royalco share sale. Cash ended at $1.665m, up from $491k.
10 Mar 2017half year report● Neutral
Half-year to 31 December 2016: net loss $192,709, against $1.257m a year earlier (which included impairment). Royalty income $14,100, down on lower oil prices. Cash $491,682. Royalco spill held 22 February; the half-year report says board changes followed. Auditor now RSM.
8 Mar 2017asset acquisition disposition▲ GoodMajor
HPR sold 5,630,776 Royalco shares for $1,140,232, above cost and at a premium to Fitzroy River's takeover offer, and sold its 1.3% PEL 512 royalty for $100,000 (bought 2013 for $80,394). Together over $1.24m in cash, reversing the Royalco buildup; stake now 10.68%.
